U.S. SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C.  20549

                                   FORM 10-QSB

(Mark  One)

 X     QUARTERLY  REPORT  PURSUANT  TO  SECTION  13  OR  15(d) OF THE SECURITIES
---
       EXCHANGE  ACT  OF  1934
       For  the  quarterly  period  ended:  March  31,  2000
                                           -----------------

        TRANSITION  REPORT  PURSUANT  TO  SECTION  13 OR 15(d) OF THE SECURITIES
---     EXCHANGE  ACT  OF  1934
        For the  transition  period  from  _______________  to  ________________

                       Commission file number:   33-43317
                                               ----------

                                EASTON BANCORP, INC.
                  ---------------------------------------------
        (Exact name of small business issuer as specified in its charter)

           Maryland                                    52-1745344
          ---------                                    ----------
     (State of incorporation)             (I.R.S. Employer Identification No.)

                  501 Idlewild Avenue, Easton, Maryland  21601
                  --------------------------------------------
                    (Address of principal executive offices)

                                 (410) 819-0300
                                 --------------
                           (Issuer's telephone number)

                                Not Applicable
            --------------------------------------------------------
    (Former name, former address and former fiscal year, if changed since last
                                     report)


     Check  whether  the  issuer:  (1) filed all reports required to be filed by
Section  13  or 15(d) of the Exchange Act during the past 12 months (or for such
shorter  period  that the registrant was required to file such reports), and (2)
has  been  subject  to  such  filing  requirements  for  the  past  90  days.
Yes   X   No
     ---      ---

     State  the  number of shares outstanding of each of the issuer's classes of
common  equity,  as  of  the  latest  practicable  date:

     On May 4, 2000, 560,318 shares of the issuer's common stock, par value $.10
per  share,  were  issued  and  outstanding.

    Transitional Small Business Disclosure Format (check one):    Yes     No  X
                                                                      ---    ---


<PAGE>
                                     PART I
                              FINANCIAL INFORMATION

ITEM  1.  FINANCIAL  STATEMENTS.

<TABLE>
<CAPTION>
                         EASTON BANCORP, INC. AND SUBSIDIARY
                             CONSOLIDATED BALANCE SHEETS
                                     (Unaudited)


                                                         March 31,     December 31,
                                                            2000           1999
                                                        ------------  --------------
<S>                                                     <C>           <C>
                           ASSETS
Cash and due from banks                                 $ 1,294,985   $   2,576,335
Federal funds sold                                          891,786         824,727
Investment in Federal Home Loan Bank stock                  179,000         179,000
Investment securities available for sale                  4,469,534       4,203,828
Loans held for sale                                         376,600          70,000
Loans, less allowance for credit losses of
  $670,000 and $610,396, respectively                    48,043,512      45,936,298
Premises and equipment, net                               1,685,843       1,694,652
Intangible assets, net                                       14,403          15,691
Accrued interest receivable                                 330,234         300,536
Other assets                                                 43,283          46,004
Deferred income taxes                                       127,516         177,017
                                                        ------------  --------------
           Total assets                                 $57,456,696   $  56,024,088
                                                        ============  ==============

               LIABILITIES AND STOCKHOLDERS' EQUITY
Deposits
  Noninterest-bearing                                   $ 4,011,007   $   3,678,246
  Interest-bearing                                       46,683,858      43,448,200
                                                        ------------  --------------
           Total deposits                                50,694,865      47,126,446
Accrued interest payable                                    100,587         108,888
Securities sold under agreements to repurchase               57,658         280,667
Note payable                                              1,584,995       3,578,493
Other liabilities                                            45,241          45,964
                                                        ------------  --------------
           Total liabilities                             52,483,346      51,140,458
                                                        ------------  --------------

Stockholders' equity
  Common stock, par value $.10 per share;
    authorized 5,000,000 shares; 560,318
    shares issued and outstanding                            56,032          56,032
  Additional paid-in-capital                              5,227,487       5,227,487
  Retained earnings (deficit)                              (222,124)       (322,518)
                                                        ------------  --------------
                                                          5,061,395       4,961,001
  Accumulated other comprehensive income (loss)             (88,045)        (77,371)
                                                        ------------  --------------
           Total stockholders' equity                     4,973,350       4,883,630
                                                        ------------  --------------
           Total liabilities and stockholders' equity   $57,456,696   $  56,024,088
                                                        ============  ==============
</TABLE>

See  accompanying  Notes  to  Consolidated  Financial  Statements.


                                        1
<PAGE>
<TABLE>
<CAPTION>
                       EASTON BANCORP, INC. AND SUBSIDIARY
                        CONSOLIDATED STATEMENTS OF INCOME
                                   (Unaudited)


                                     Three  Months  Ended
                                           March  31,
                                     --------------------
                                        2000       1999
                                     ----------  --------
<S>                                  <C>         <C>
Interest revenue
 Loans, including fees               $1,057,127  $766,937
 Investment securities                   68,228    72,659
 Federal funds sold                      29,156    62,399
                                     ----------  --------
   Total interest revenue             1,154,511   901,995

Interest expense                        534,105   446,677
                                     ----------  --------

   Net interest income                  620,406   455,318

Provision for loan losses                53,933    18,000
                                     ----------  --------

   Net interest income after
     provision for loan losses          566,473   437,318
                                     ----------  --------

Other operating revenue                  55,263    38,308
                                     ----------  --------

Other expenses
 Salaries and benefits                  280,595   252,197
 Occupancy                               25,136    17,431
 Furniture and equipment                 27,124    18,160
 Other operating                        133,488   119,610
                                     ----------  --------
   Total operating expenses             466,343   407,398
                                     ----------  --------

Net income before income taxes          155,393    68,228

Income taxes                             55,000    23,800
                                     ----------  --------

Net income                             $100,393   $44,428
                                     ==========  ========

Earnings per common share - basic         $0.18     $0.08
                                     ==========  ========

Earnings per common share - diluted       $0.17     $0.07
                                     ==========  ========
</TABLE>

See  accompanying  Notes  to  Consolidated  Financial  Statements.


                                        2
<PAGE>
<TABLE>
<CAPTION>
                        EASTON BANCORP, INC. AND SUBSIDIARY
                       CONSOLIDATED STATEMENTS OF CASH FLOWS
                                    (Unaudited)
                                                             Three Months Ended
                                                                 March 31,
                                                        --------------------------
CASH FLOWS FROM OPERATING ACTIVITIES                        2000          1999
                                                        ------------  ------------
<S>                                                     <C>           <C>
 Interest received                                       $1,103,203      $872,599
 Other revenue received                                      55,263        87,711
 Cash paid for operating expenses                          (440,094)     (537,755)
 Interest paid                                             (542,406)     (452,344)
Loans originated for sale                                  (969,240)            0
  Proceeds from loan sales                                  662,640             0
                                                        ------------  ------------
                                                           (130,634)       29,789
                                                        ------------  ------------
CASH FLOWS FROM INVESTING ACTIVITIES
Cash paid for premises and equipment                        (17,812)      (32,959)
 Net loans to customers                                  (2,140,198)   (2,200,386)
Investment securities purchased                            (298,063)     (968,613)
 Proceeds from sales/maturities of investments               16,845       759,284
 Purchase of Foreclosed Property                                  0       (60,450)
                                                        ------------  ------------
                                                         (2,439,228)   (2,503,124)
                                                        ------------  ------------
CASH FLOWS FROM FINANCING ACTIVITIES
 Net increase (decrease) in time deposits                   993,187    (2,069,243)
 Net increase (decrease) in other deposits                2,578,891      (389,745)
 Net increase (decrease) in securities sold
     under agreements to repurchase                        (223,009)     (200,888)
 Debt advances                                            1,993,498       308,522
                                                        ------------  ------------
                                                          1,355,571     2,351,354
                                                        ------------  ------------

NET INCREASE (DECREASE) IN CASH                          (1,214,291)   (4,884,267)
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD          3,401,062     8,246,585
                                                        ------------  ------------
CASH AND CASH EQUIVALENTS AT END OF PERIOD              $ 2,186,771   $ 3,362,318
                                                        ============  ============

RECONCILIATION OF NET INCOME TO NET CASH
 PROVIDED (USED) IN OPERATING ACTIVITIES
Net income                                                 $100,393       $44,428
 Adjustments to reconcile net income to net cash
 provided (used) in operating activities:
 Depreciation and amortization                               27,909        24,182
 Provision for loan losses                                   53,933        18,000
Loan sales net proceeds                                    (306,600)            0
 Decrease (increase) in accrued interest receivable
   and other assets                                          23,704       (68,579)
 Increase (decrease) in operating accounts payable
   and other liabilities                                    (29,973)      (45,151)
 Increase (decrease) in deferred loan origination fees            0        (2,669)
                                                        ------------  ------------
                                                          ($130,634)      $29,789
                                                        ============  ============
</TABLE>

See  accompanying  Notes  to  Consolidated  Financial  Statements.


                                        3
<PAGE>
NOTES  TO  CONSOLIDATED  FINANCIAL  STATEMENTS:

1.   Basis  of  Presentation
     -----------------------

     The  accompanying  unaudited  condensed  financial  statements  have  been
prepared in accordance with generally accepted accounting principles for interim
financial  information  and with the instructions to Form 10-QSB and Item 310(b)
of  Regulation S-B of the Securities and Exchange Commission.  Accordingly, they
do  not include all the information and footnotes required by generally accepted
accounting  principles  for  complete  financial  statements.  In the opinion of
management, all adjustments (consisting of normal recurring accruals) considered
necessary  for a fair presentation have been included. Operating results for the
three months ended March 31, 2000, are not necessarily indicative of the results
that  may  be  expected  for  the  year  ended  December  31, 2000.  For further
information,  refer  to  the  consolidated  financial  statements  and footnotes
thereto  for  the Company's fiscal year ended December 31, 1999, included in the
Company's  Form  10-KSB  for  the  year  ended  December  31,  1999.

2.   Cash  Flows
     -----------

     For  purposes  of  reporting  cash flows, cash and cash equivalents include
cash  on  hand,  unrestricted  amounts  due from banks, overnight investments in
repurchase  agreements,  and  federal  funds  sold.


3.   Comprehensive  Income
     ---------------------

     Comprehensive  income  consists  of  :

                                                     Three  Months  Ended
                                                           March  31,
                                                       2000         1999
                                                     --------     --------
         Net Income                                  $100,393     $44,428
         Unrealized gain (loss) on investment
            securities available for sale net of
            income  taxes                             (10,674)    (14,706)
                                                     --------     --------
         Comprehensive Income                        $ 89,719     $29,722
                                                     =========    ========


                                        4
<PAGE>
     This Report contains statements which constitute forward-looking statements
within  the meaning of Section 27A of the Securities Act of 1933 and Section 21E
of  the Securities Exchange Act of 1934.  These statements appear in a number of
places in this Report and include all statements regarding the intent, belief or
current  expectations of the Company, its directors or its officers with respect
to, among other things: (i) the Company's financing plans; (ii) trends affecting
the  Company's financial condition or results of operations; (iii) the Company's
growth  strategy and operating strategy; and (iv) the declaration and payment of
dividends.  Investors are cautioned that any such forward-looking statements are
not  guarantees  of  future performance and involve risks and uncertainties, and
that  actual  results  may  differ  materially  from  those  projected  in  the
forward-looking  statements  as a result of various factors discussed herein and
those  factors  discussed in detail in the Company's filings with the Securities
and  Exchange  Commission.

ITEM 2.  MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF  OPERATIONS.

     Easton  Bancorp,  Inc. (the "Company") was incorporated in Maryland on July
19,  1991,  to become a one-bank holding company by acquiring all of the capital
stock  of Easton Bank & Trust Company (the "Bank") upon its formation.  The Bank
commenced  business  on July 1, 1993, and the only activity of the Company since
then  has  been the ownership and operation of the Bank.  The Bank was organized
as  a nonmember state bank under the laws of the State of Maryland.  The Bank is
engaged  in  a general commercial banking business, emphasizing in its marketing
the  Bank's local management and ownership, from its main office location in its
primary  service  area, Talbot County, Maryland.  During 1999, the Bank opened a
full-service  branch  office  in  Denton, Maryland, which is in Caroline County.
The Bank offers a full range of deposit services that are typically available in
most  banks  and savings and loan associations, including checking accounts, NOW
accounts,  savings  accounts  and  other time deposits of various types, ranging
from  daily  money  market  accounts to longer-term certificates of deposit.  In
addition,  the  Bank  offers  certain  retirement  account  services,  such  as
Individual  Retirement  Accounts.  The  Bank  offers  a  full  range of short-to
medium-term  commercial  and personal loans.  The Bank also originates and holds
or  sells  into  the secondary market fixed and variable rate mortgage loans and
real  estate  construction  and  acquisition loans.  Other bank services include
cash  management services, safe deposit boxes, traveler's checks, direct deposit
of  payroll  and  social  security  checks,  and  automatic  drafts  for various
accounts.

     The  following  discussion  of  the  financial  condition  and  results  of
operations  of  the  Company  should  be  read in conjunction with the Company's
financial  statements  and  related  notes  and  other  statistical  information
included  elsewhere  herein.

Results  of  Operations
-----------------------

     Net  income  for the Company for the three months ended March 31, 2000, was
$100,393,  compared  to  $44,428  during  the corresponding period of 1999.  The
increase  in earnings can be attributed to an increase in net interest income of
approximately  $165,000  and  an  increase  of  approximately  $17,000  in other
operating  income,  offset  by an increase of approximately $36,000 in provision
for  loan  losses,  $59,000  in  total  operating expenses and $31,000 in income
taxes.  The  increase  in net interest income is primarily due to an increase of
approximately  $290,000  in  interest earned on the growth in the loan portfolio
less  a  decrease  of  approximately $33,200 in interest earned on federal funds
sold  and an increase of approximately $87,000 in interest expense primarily due
to  the  increase  in  deposits.  The  increase  in  total operating expenses is
primarily  attributed  to  an increase in salaries and benefits of approximately
$28,400.


                                        5
<PAGE>
     The  Bank's  loan  portfolio  increased  from $45.9 million at December 31,
1999,  to $48.0 million at March 31, 2000.  The Bank's provision for loan losses
was  $53,933  for  the quarter ended March 31, 2000, compared to $18,000 for the
quarter  ended  March  31,  1999.  The allowance for loan losses was $670,000 at
March  31,  2000,  or 1.38% of total loans, compared to $610,396 at December 31,
1999,  or  1.31%  of  total  loans.  The  level of the allowance for loan losses
represents management's current estimate of future losses in the loan portfolio;
however,  there  can be no assurance that loan losses in future periods will not
exceed  the  allowance  for  loan  losses  or  that  additional increases in the
allowance  will  not  be  required.

     Noninterest  expense  increased  $58,945  to $466,343 for the quarter ended
March  31,  2000,  from  $407,398  for  the  quarter  ended March 31, 1999.  The
increase  was  primarily  related  to  the increases in salaries and benefits of
$28,398.  The  increase  in  salaries  and  benefits  was  due  to annual salary
increases,  one new full-time employee and two new part-time employees hired for
the  main  office, and two new full-time employees hired to staff the new Denton
office.

     Return  on  average  assets and average equity, on an annualized basis, for
the quarter ended March 31, 2000, were .72% and 8.35%, respectively, compared to
 .43%  and 4.74%, respectively, for the same quarter of 1999.  Earnings per share
on  a  fully  diluted basis for the quarters ended March 31, 2000, and March 31,
1999,  amounted  to  $.17  and  $.07.

     The  Company's  assets ended the first quarter of 2000 at $57.5 million, an
increase  of  $1.4  million,  or 2.56%, from $56.0 million at December 31, 1999.
This  increase  can be attributed primarily to the decrease in cash and due from
banks  of  $1.3  million,  offset  by  the  increase in the Bank's loans of $2.4
million  and  an  increase in the investment portfolio of $300,000.  The Company
repaid approximately $2 million in borrowings from the Federal Home Loan Bank of
Atlanta  that brings total borrowings from the Federal Home Loan Bank of Atlanta
to  $1.6  million  that  are  match  funded  on  two  loans.

     Management  expects  that  its  2000 income will exceed expenses.  Although
management  expects  that the Company's current profitably will continue, future
events,  such  as  an  unanticipated  deterioration in the loan portfolio, could
reverse  this  trend.  Management's  expectations are based on management's best
judgment  and  actual  results will depend on a number of factors that cannot be
predicted  with  certainty  and  thus  fulfillment  of management's expectations
cannot  be  assured.

Liquidity  and  Sources  of  Capital
------------------------------------

     The  $3.6 million increase in deposits from December 31, 1999, to March 31,
2000, is primarily reflected in the $2.0 million decrease in borrowings from the
Federal  Home Loan Bank of Atlanta, and the increase in the Bank's loans of $2.4
million,  offset  by  the $1.3 million decrease in cash and due from banks.  The
Company's  primary  source  of  liquidity  is  cash  on  hand  plus  short-term
investments.  At  March  31,  2000,  the  Company's  liquid  assets totaled $6.7
million, or 11.58% of total assets, compared to $7.6 million, or 13.57% of total
assets,  at  December 31, 1999.  Another source of liquidity is the $7.0 million
secured  line  of  credit  the  Company  has  from the Federal Home Loan Bank of
Atlanta,  of  which  $1.6  million  is  used, the $1.0 million unsecured line of
credit  the  Company has from a correspondent bank, and the $1.5 million secured
line of credit the Company has from another correspondent bank, of which $75,000
is  pledged to secure repurchase agreements.  If additional liquidity is needed,
the  Bank  will  sell  participations  in  its  loans.


                                        6
<PAGE>
     The  capital of the Company and the Bank exceeded all prescribed regulatory
capital  guidelines  at  March 31, 2000.  At March 31, 2000, the Tier 1 leverage
ratio  for  the Bank was 8.76%.  At March 31, 2000, the Bank had a risk-weighted
total  capital  ratio  of  12.30%,  and  a Tier 1 risk-weighted capital ratio of
11.04%.  The Company expects that its current capital and short-term investments
will  satisfy  the  Company's  cash  requirements  for  the  foreseeable future.
However, no assurance can be given in this regard as rapid growth, deterioration
in  the  loan quality or poor earnings, or a combination of these factors, could
change  the  Company's  capital  position  in a relatively short period of time.

Year  2000  Issues
------------------

     The  Year  2000 issue relates to computer programs that use only two digits
to  identify  a  year in the date field.  Unless corrected, these programs could
read the year 2000 as the year 1900 and likely would adversely affect any number
of  calculations that are made using the date field.  Financial institutions are
highly  computerized  organizations  and  the  Year  2000  issue  represents  a
significant  risk  to  the  industry.  The  Company  faces the same risks as the
industry.  The  failure  of  a major loan or deposit system due to the Year 2000
issue could result in interest and balances being calculated inaccurately.  Such
failures could have a significant impact on a financial institution's operations
and  liquidity.

     Management  has  a  Year  2000  Committee,  which  reports  to  the  Board,
responsible  for  assessing  progress  in  the  Company's  plans to minimize the
effects  of  the  Year  2000 issue, which include a continuing effort to educate
employees,  customers,  business  partners and vendors of the impact of the Year
2000  issue  and  testing  all  critical  hardware  and  software  for Year 2000
readiness.

     As  of April 15, 2000, the Company has not experienced any significant Year
2000  issues  relating  to the Company's internal systems, interfaces with third
parties or products or services.  In addition, as of April 15, 2000, information
and products from third parties provided to the Company have not had any adverse
effects  on  the Company's operations as a result of Year 2000 issues.  To date,
the  costs  incurred  in  connection with Year 2000 compliance projects have not
been material to the Company's results of operations or liquidity.  In addition,
the  Company  does  not anticipate incurring any additional significant costs to
remain  compliant.

     The  Company's  total  costs  to  date  associated with the Year 2000 issue
primarily  include  the costs incurred to upgrade the software and hardware that
was not Year 2000 compliant.  The Company has incurred these costs in the normal
course  of business as software and hardware has been upgraded to keep pace with
technological  advances.  The  Company  estimates  that $1,000 has been spent to
date  which could be related to the Year 2000 issue.  The Company does not track
internal  costs  for  personnel  devoted  to  the  Year 2000 issue; however, one
individual  has  spent significant time on the project and many individuals have
spent  numerous  hours  working  on  the  Year  2000  issue.

Market  Risk
------------

     Net  interest income of the Company is one of the most important factors in
evaluating  the financial performance of the Company.  The Company uses interest
sensitivity  analysis  to  determine  the  effect of rate changes.  Net interest
income  is  projected  over  a  one-year  period  to  determine the effect of an
increase  or  decrease  in the prime rate of 100 basis points.  If prime were to
decrease  100  basis  points,  the  Company  would  experience a decrease in net
interest  income  of  $534  if  all  assets and liabilities maturing within that
period  were  adjusted  for  the rate change.  The sensitivity analysis does not
consider  the likelihood of these rate changes nor whether management's reaction
to  this  rate  change  would  be  to  reprice  its  loans  and  deposits.


                                        7
<PAGE>
                                    PART  II
                               OTHER  INFORMATION


ITEM 1.  LEGAL  PROCEEDINGS.

     There are no material pending legal proceedings to which the Company or the
Bank  is  a  party  or  of  which  any  of  their  property  is  the  subject.

ITEM 2.  CHANGES  IN  SECURITIES.

     None.

ITEM 3.  DEFAULTS  UPON  SENIOR  SECURITIES.

     Not  applicable.

ITEM 4.  SUBMISSION  OF  MATTERS  TO  A  VOTE  OF  SECURITY  HOLDERS.

     There  were  no matters submitted to security holders for a vote during the
quarter  ended  March  31,  2000.

ITEM 5.  OTHER  INFORMATION.

     None.

ITEM 6.  EXHIBITS  AND  REPORTS  ON  FORM  8-K.

     (a)  Exhibits.

          11.1   Computation  of  Earnings  Per  Share.

          27.1   Financial  Data  Schedule  (for  SEC  use  only).

     (b)  Reports  on  Form  8-K.

          There  were no reports on Form 8-K filed by the Company during the
          quarter ended March  31,  2000.


                                        8
<PAGE>
                                  SIGNATURES


     In  accordance  with  the  requirements of the Exchange Act, the registrant
caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.

                                             EASTON  BANCORP,  INC.
                                             ------------------------
                                                  (Registrant)



Date:  May  5,  2000                    By:  /s/  R.  Michael  S.  Menzies
       ---------------                        ------------------------------
                                                  R.  Michael  S.  Menzies
                                                  President



Date:  May  5,  2000                    By:  /s/  Pamela  A.  Mussenden
       ---------------                        ---------------------------
                                                  Pamela  A.  Mussenden
                                                  Assistant  Treasurer
                                                  (Principal Financial Officer)


                                        9
<PAGE>
                                INDEX TO EXHIBITS

Exhibit                                                              Sequential
Number                         Description                          Page  Number
------                         -----------                          ------------

11.1          Computation  of  Earnings  Per  Share.

27.1          Financial  Data  Schedule  (for  SEC  use  only).


<PAGE>